Stock Track | BioAge Labs Soars 32% in Nasdaq Debut on Strong Demand for Obesity Drug

Stock Track09-27

Shares of BioAge Labs Inc. (BIOA) soared 32% in their Nasdaq debut on Wednesday, as investors flocked to the clinical-stage biopharmaceutical company developing a promising new treatment for obesity.

BioAge Labs priced its upsized initial public offering (IPO) of 11 million shares at $18 per share, raising $198 million in proceeds. The stock opened at $22.50, a staggering 25% premium to the IPO price, reflecting robust investor demand for the offering.

The successful IPO comes against the backdrop of a surging market for weight-loss drugs, which are expected to become a $150 billion market by the early 2030s. BioAge's lead product candidate, azelaprag, is an oral obesity treatment pill that mimics the activity of the apelin protein, which is secreted by the body after exercise.

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